Consumer Goods Current Affairs - 2019

According to data released by Central Statistics Office (CSO), factory output measured in terms of Index of Industrial Production (IIP) has grown nine-month high to 4.3% in August 2017. This was mainly due to a robust performance of the mining and power sectors.

Index of Industrial Production (IIP)

The IIP is composite indicator that measures short-term changes in volume of production of basket of industrial products during given period with respect to chosen base period. It is compiled and published monthly by Central Statistical Organization (CSO), Ministry of Statistics and Programme Implementation.

The CSO had revised base year of IIP from 2004-05 to 2011-12 in May 2017 to capture structural changes in economy and improve quality and representativeness of indices. The revised IIP (2011-12) reflects changes in industrial sector and also aligns it with base year of other macroeconomic indicators like Wholesale Price Index (WPI) and Gross Domestic Product (GDP).